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Key Short-Term Resistance Is The 50-Day EMA

EURGBP TECHS
  • RES 4: 0.8586 76.4% retracement of the Apr 23 - Jun 14 bear leg
  • RES 3: 0.8568 High May 20
  • RES 2: 0.8548 1.0% 10-dma envelope
  • RES 1: 0.8500 50-day EMA
  • PRICE: 0.84653 @ 06:28 BST Jul 4
  • SUP 1: 0.8431 Low Jun 25
  • SUP 2: 0.8397 Low Jun 14 and the bear trigger
  • SUP 3: 0.8388 Low Aug 17 2022
  • SUP 4: 0.8366 2.236 proj of the Apr 23 - 30 - May 9 price swing

EURGBP traded lower into the Wednesday close. The cross is trading below an important resistance at 0.8500, the 50-day EMA. A clear break of this average would undermine the recent bearish theme and signal scope for a stronger recovery. Gains since Jun 14 appear to be a correction. Initial firm support to watch lies at 0.8431, the Jun 25 low. A reversal lower and a break of this support would open 0.8397, the Jun 14 low and bear trigger.

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  • RES 4: 0.8586 76.4% retracement of the Apr 23 - Jun 14 bear leg
  • RES 3: 0.8568 High May 20
  • RES 2: 0.8548 1.0% 10-dma envelope
  • RES 1: 0.8500 50-day EMA
  • PRICE: 0.84653 @ 06:28 BST Jul 4
  • SUP 1: 0.8431 Low Jun 25
  • SUP 2: 0.8397 Low Jun 14 and the bear trigger
  • SUP 3: 0.8388 Low Aug 17 2022
  • SUP 4: 0.8366 2.236 proj of the Apr 23 - 30 - May 9 price swing

EURGBP traded lower into the Wednesday close. The cross is trading below an important resistance at 0.8500, the 50-day EMA. A clear break of this average would undermine the recent bearish theme and signal scope for a stronger recovery. Gains since Jun 14 appear to be a correction. Initial firm support to watch lies at 0.8431, the Jun 25 low. A reversal lower and a break of this support would open 0.8397, the Jun 14 low and bear trigger.